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Popolare Word Problems >

What principle will amount to 10000 if invested at 5.5% compounded monthly for 18 years?

Soluzione

Wha t p r in c i pl e w i ll am o u n t t o 10000 i f in v es t e d a t 5.5% co m p o u n d e d m o n t h l y f or 18 ye a rs ?

Soluzione

Principal : 3724.18

Fasi della soluzione

Translate the problem into an equation:

10000 = P (1 + \frac{0.055}{12})^{12 \cdot 18}

Risolvi per

P, 10000 = P (1 + \frac{0.055}{12})^{12 \cdot 18} : P = 3724.18

Principal : 3724.18

Esempi popolari

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